Economic diplomacy yielding positive results: FM Qureshi

Foreign Minister, Shah Mahmood Qureshi has said economic diplomacy is yielding positive results and infrastructure projects like CPEC will change the fate of entire region.

Talking to people belonging to different walks of life in Multan, he said these projects would enhance digital linkages and promote social, cultural, tourism and trade ties, which would serve as foundations for a durable progress.

FM Qureshi said CPEC has entered into the second phase in which focus would be on industry, economic and social uplift. He said the CPEC Authority has been constituted for timely completion of projects.

Foreign Minister said economy is improving as different international economic institutions has acknowledged the improvement. He said multinational companies and investors are visiting Pakistan with huge investments and this would help generate employment opportunities in the country.

FM Qureshi said reduction in trade deficit and increase in foreign exchange reserves show a visible improvement in country’s economy.

Yesterday, Chinese Ambassador to Pakistan Yao Jing on Saturday rejected US Acting Assistant Secretary of State for South Asia Alice Wells’ statement regarding China Pakistan Economic Corridor (CPEC).

“Pak-China relations are based on win-win cooperation and are mutually beneficial,” the Chinese envoy said while addressing the 5th CPEC Media Forum in Islamabad, reported Radio Pakistan,

Mr. Yao expressed astonishment over Alice Wells’ statement of higher tariff in power plants, established under CPEC.